IHS (NYSE:IHS) Share Price Breaks Above 50-Day Moving Average - Here's Why

Key Points

• IHS shares rose 0.4% and moved above their 50-day moving average of $8.44, trading as high as $8.48 and last at $8.455.
• Analysts have a consensus “Hold” rating on the stock, with an average price target of $8.80.
• In its latest reported quarter, IHS posted an EPS loss of $0.04 versus expectations for $0.12 in earnings, while revenue of $428.6 million also fell short of estimates.

IHS Holding Limited (NYSE:IHS - Get Free Report)'s share price crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $8.44 and traded as high as $8.48. IHS shares last traded at $8.4550, with a volume of 430,122 shares.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IHS. Wall Street Zen raised IHS to a "hold" rating in a report on Saturday, October 24th. Weiss Ratings raised IHS from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, October 8th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $8.80.

IHS Stock Up 0.4%

The business's fifty day moving average price is $8.44 and its 200 day moving average price is $8.27. The firm has a market capitalization of $2.86 billion, a PE ratio of 21.14 and a beta of 0.73.

IHS (NYSE:IHS - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The business services provider reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.16). IHS had a net margin of 8.17% and a negative return on equity of 832.09%. The firm had revenue of $428.60 million for the quarter, compared to analysts' expectations of $442.72 million.

Institutional Investors Weigh In On IHS

Several hedge funds have recently made changes to their positions in IHS. Groupe la Francaise increased its stake in shares of IHS by 48.0% during the 2nd quarter. Groupe la Francaise now owns 917,096 shares of the business services provider's stock valued at $7,557,000 after acquiring an additional 297,298 shares during the last quarter. Gabelli Funds LLC purchased a new position in shares of IHS during the 1st quarter worth about $3,517,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of IHS in the first quarter worth approximately $4,129,000. Squarepoint Ops LLC boosted its position in shares of IHS by 60.6% in the second quarter. Squarepoint Ops LLC now owns 1,149,563 shares of the business services provider's stock worth $9,472,000 after acquiring an additional 433,811 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of IHS by 42.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,586,145 shares of the business services provider's stock worth $21,284,000 after acquiring an additional 768,286 shares during the last quarter. Institutional investors and hedge funds own 17.54% of the company's stock.

About IHS

IHS Towers, formally IHS Holding Limited, is an independent owner and operator of shared telecommunications infrastructure. Founded in 2001, the company began in Nigeria and expanded into a multinational provider of infrastructure used by mobile network operators.

Its assets and services include wireless communications towers, fiber-optic networks and other infrastructure that help telecom providers extend coverage and capacity. By sharing sites and related facilities among customers, IHS supports the deployment and operation of mobile networks.

IHS has served markets across Africa, Latin America and the Middle East.

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